On Friday, Vince Holding Corp (NYSE:VNCE) released an 8-k filing providing a bit of material insight to shareholders. In the announcement, which was also released as a press released the week prior, the company says that they have entered into an agreement with Rea Laccone and Christopher LaPolice. In accordance with the agreement, LaPolice and Laccone will be in charge of overseeing the company’s produce, merchandising and creative efforts.
The agreement will run until February of 2018 and provide compensation valued at several million dollars. More details will be divulged on this agreement in the January 30 Annual Report (10-k filing).
“Rea and Christopher, who created the original vision for Vince 13 years ago, bring tremendous creative talent to the brand. We look forward to drawing upon their design and merchandising expertise to enhance our product offering. While product is our first priority, we are also working to develop a strong foundation from which we can drive consistent profitable growth for the long term.”
Shareholders apparently are liking this news, as shares of VNCE are trading up today.
The stock is up 21.41% or $0.91 after the news, hitting $5.16 per share. About 1.29M shares traded hands or 147.45% up from the average. VNCE has declined 77.26% since April 27, 2015 and is downtrending. It has underperformed by 76.37% the S&P500.
Out of 5 analysts covering Vince Holding Corp (NASDAQ:VNCE), 0 rate it “Buy”, 0 “Sell”, while 5 “Hold”. This means 0 are positive. $7 is the highest target while $5 is the lowest. The $6 average target is 16.28% above today’s ($5.16) stock price. Vince Holding Corp was the topic in 5 analyst reports since September 4, 2015 according to StockzIntelligence Inc. Barclays Capital maintained the stock on September 4 with “Equal Weight” rating. Stifel Nicolaus maintained the shares of VNCE in a report on September 4 with “Hold” rating.
The institutional sentiment increased to 1.6 in Q2 2015. Its up 0.14, from 1.46 in 2015Q1. The ratio increased, as 19 funds sold all Vince Holding Corp shares owned while 26 reduced positions. 31 funds bought stakes while 41 increased positions. They now own 15.26 million shares or 4.16% less from 15.92 million shares in 2015Q1.
Mig Capital Llc holds 1.04% of its portfolio in Vince Holding Corp for 458,673 shares. Skylands Capital Llc owns 277,000 shares or 0.36% of their US portfolio. Moreover, Bogle Investment Management L P De has 0.3% invested in the company for 333,729 shares. The New York-based Lucus Advisors Llc has invested 0.2% in the stock. Shufro Rose & Co Llc, a New York-based fund reported 140,600 shares.
Vince Holding Corp. is a contemporary fashion brand known for modern style and everyday luxury essentials. The company has a market cap of $157.52 million. The Firm offers a range of women’s, men’s and children’s apparel, women’s and men’s footwear, and handbags. It has 9.37 P/E ratio. The Firm operates in two divisions: wholesale and direct-to-consumer.